recoverable

recoverable

adj. referring to the amount of money to which a plaintiff (the party suing) is entitled in lawsuit. Thus, a judge might rule "$12,500 is recoverable for lost wages, and $5,500 is recoverable for property damage to plaintiff's vehicle." (See: damages, judgment)

Again, the IFRS standard is a one-step test in which the carrying amount of the CGU (to which the goodwill has been allocated) is compared to the CGU's recoverable amount, and any excess carrying amount is written off against goodwill and then to the other assets of the CGU.

The differences in standards have been a source of debate among the G4+1 standard setters, and the group prepared the special report, International Review of Accounting Standards Specifying a Recoverable Amount Test for Long-Lived Assets, to promote the development of new and improved standards that are similar among the participating countries.

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